The People’s Daily is reporting that the Yuecheng Group’s program will see around 40% of the public area in Gonghe Town in Chaoyang District used to build facilities for medical care, nursing, catering and other support services.

5% of each house in the area will be owned by the developer, while the other 95% will be sold to families with members aged over 60.

Currently, homes in the project are being sold for 40,000 yuan (AUD$7,839) per sqm – the same price as other nearby housing projects.

But Yuecheng Vice-President Gao Junsong says that if investors provide the promised aged care services, the facilities will become solid assets.